This Month
Downsizing by stealth: How not to lay off staff
Mass redundancies kicked up a gear this year as profits have been squeezed. But not all employers have been upfront about the cuts and some have done it better than others.
- Euan Black
September
Start-up backed by big four banks cuts 30pc of its staff
Slyp says it still has the banks’ backing, despite its technology only working in NAB’s app.
- Nick Bonyhady
Allier Capital hired to shop HR software biz Tambla
Tambla is expected to fetch $50 million to $100 million.
- Sarah Thompson, Kanika Sood and Emma Rapaport
August
- Exclusive
- Hiring
Tech workers take $20,000-plus pay cuts as fired talent floods market
Salaries exploded during the pandemic as cashed up companies threw money at skilled workers, but recruiters and CEOs say job cuts have made the job market tougher.
- Tess Bennett
NAB prepares bank-wide job cuts; 60 in markets to go
National Australia Bank is preparing to hand down redundancies to about 10 per cent of the staff manning its markets division, Street Talk can reveal.
- Sarah Thompson, Kanika Sood and Emma Rapaport
July
CBA swings the axe on staff; job cuts across the board
Commonwealth Bank is following in the footsteps of its peers, setting the wheels in motion for a big round of staff cuts.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Microsoft
Microsoft fires Australian staff in fresh global cull
Australian employees of the US tech giant have been shocked by a fresh redundancy hit that takes the number of local staff fired to close to 200 so far in 2023.
- Paul Smith
June
Linktree sacks a quarter of its staff
After its product was matched by Instagram, the venture capital favourite has made 60 employees redundant in a move it says will help it grow faster in the US.
- Paul Smith
March
Who to fire? How the biggest companies plan mass lay-offs
Employers such as Goldman Sachs, Meta and Ford have taken different approaches to laying off staff. Can they avoid lasting damage to morale?
- Brooke Masters
February
Aussie tech workers brush off ‘brutal’ sackings as new jobs abound
Australian tech workers have faced the reality of learning about their sacking by email or calendar invite, but they say plenty of fresh opportunities exist.
- Tess Bennett
Credit Suisse wins Jefferies banker, bonuses hinder First Boston reset
Joel Chalhoub joins the Swiss bank, which has snared a handful of rainmakers in the last two years, but the spectre of staggered bonuses hang over the Street.
- Aaron Weinman
- Exclusive
- Start-ups
Mass redundancies at $300m driverless car start-up Baraja
Baraja, a heavily backed Australian driverless technology start-up valued at $300 million in 2021, has laid off a large chunk of its workforce.
- Paul Smith
- Exclusive
- Investment banking
Jefferies doles out bumper bonuses as Wall Street tightens spending
The firm has rewarded its troops healthy compensation after logging about $100 million in investment banking revenue.
- Aaron Weinman
January
- Exclusive
- Investment banking
JPMorgan joins Wall Street’s bonus cutters
The largest bank in the US has softened its investment banking compensation pool by about 30 per cent from last year after a slump in dealmaking.
- Aaron Weinman
Spotless accused of harsh, unjust firings in Fair Work claim
Sacked Spotless workers represented by the United Workers Union have filed applications with the Fair Work Commission alleging unfair dismissal.
- Jenny Wiggins
November 2022
- Exclusive
- Funding
Fast delivery firm Voly offloads more staff in survival fight
Billions of dollars have been pumped into the ultrafast delivery sector since the start of the pandemic, but start-ups disrupting supermarkets are struggling.
- Mark Di Stefano
October 2022
- Opinion
- Tech Observed
How tech leaders will change the way we work
Atlassian looked a bit “olde worlde” when it admitted to paying remote staff less outside of NSW and Victoria, but in reality it is an example of industry figuring new norms on the fly.
- Paul Smith
- Opinion
- Start-ups
Tech start-up ‘churn and burn’ model of firing staff must end
Aussie start-ups have been misguided in aping Silicon Valley by over-hiring and overpaying staff with VC money, only to fire people at will when sentiment changes.
- Angus Dorney
‘Pendulum has swung’: tech CEOs say talent squeeze has eased
Market uncertainty, widespread layoffs and hiring freezes among start-ups has made it easier for ASX-listed tech companies to recruit and retain staff.
- Yolanda Redrup
August 2022
- Opinion
- Funding
VCs act wise as everyone in start-ups gets fired
Investors who flooded start-ups with money and pumped up growth expectations beyond reality, should share the humble pie being eaten by founders sacking staff.
- Jessica Sier
